Business Transition

Side view of executives shaking hands after a business meeting in the office

A transition plan is a comprehensive blueprint for successfully transitioning out of the operations or ownership of a privately held business. A transition plan asks and answers the business, personal, financial, legal, and tax questions inherent to transitioning out of a privately owned business. The purpose is to maximize the value of the business, minimize taxes, and ensure the business owner accomplishes his or her personal and financial goals.

The steps included are a current evaluation of the personal and business situation, valuation, goal setting and alignment and value enhancement.

Even if you do not want to transition out now, you should be planning for that time. The average duration of transition – including planning, value enhancement, and sell or exchange – could take 3 to 5 years to complete. Shortcuts can drain value out of your business available for life after business. Getting an early start preserves value, creates opportunity, and allows you to transition on your terms.

Contact us so we can begin the creation of the roadmap necessary to position your business and you for a smooth transition out of your business.